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The World Health Organization announced Wednesday that a coalition of nations and organizations are contributing billion to assist poorer nations fight the coronavirus.The two biggest contributors were the United Kingdom and Canada.The WHO says the “ACT-Accelerator, which was launched just five months ago, is an unprecedented global collaboration of the world’s top international health organizations working together to accelerate the development, production, and equitable delivery of COVID-19 tests, treatments, and vaccines.”The WHO said an additional billion is needed to realize its goals of producing 2 billion vaccine doses, 245 million treatments and 500 million tests. The WHO is working with the World Bank to secure billion in funding, which has to be first ratified by its shareholders.The United States government did not contribute to the fund as the government stopped funding the WHO in April. The Bill and Melinda Gates Foundation, however, were among the organizations to contribute to the fund.“One thing I've learned studying the history of pandemics is that they create a surprising dynamic when it comes to self-interest and altruism,” Bill Gates said. “Pandemics are rare cases where a country’s instinct to help itself is tightly aligned with its instinct to help others. The self-interested thing and the altruistic thing–making sure poor nations have access to vaccines–are one and the same.”The UK contributed 1 million to help poorer nations in providing support to battle the virus.“We have a duty to ensure vaccines, treatments and tests for COVID-19 are available to all—stopping the global spread of the pandemic protects the British people and will put humanity on the road to recovery. Collaboration through the ACT-Accelerator is critical to promoting development, production and access for all countries,” said UK Foreign Secretary Dominic Raab. 1906

The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435

The U.S. has surpassed another bleak marker in the COVID-19 pandemic, as the country has reached 10 million confirmed cases of the virus, according to a database kept by Johns Hopkins.The milestone comes just hours after global cases surpassed 50 million, meaning about one out of every five people around the world diagnosed with the virus since the pandemic began has been diagnosed in the U.S.At least 237,000 Americans have died of the virus since the pandemic began. The U.S. continues to lead the world in both total cases and in deaths linked to the virus.The U.S. surpassed its 10 millionth case as the country deals with a disturbing spike in infections ahead of the winter months. The country surpassed 120,000 new cases in a single day three times last week, obliterating previous records. Prior to last week, the most confirmed cases the U.S. had seen in a single day was 102,000.The U.S. has recorded a million new cases of COVID-19 in the last 10 days alone. The country surpassed the 9 million case plateau on Oct. 30.In addition to the spike in cases, hospital resource use is also on the rise, and deaths linked to the virus are up slightly in recent days, though the death rate is not near what it was in March and April. Johns HopkinsHealth experts have warned that the U.S. is currently in a perilous position in the pandemic, with transmission rates as high as they have ever been as Americans move social gatherings indoors for winter months.In a memo last week, Dr. Deborah Birx — a member of the White House coronavirus task force — warned that the country is entering "the most deadly and concerning" phase of the pandemic.Late last month, Dr. Anthony Fauci — a member of the White House coronavirus task force and the county's top expert on infectious diseases — warned that the U.S. was in for a "whole lot of pain" if things didn't change soon.The U.S. did get some good news in the pandemic on Monday, as Pfizer announced that its vaccine candidate has been 90% effective in promoting immunity against the virus. However, even if the vaccine were to get FDA approval in the next few days, it would still take several months for most of the country to be vaccinated — and officials fear that vaccine skepticism could keep immunity levels below the threshold to stifle the virus. 2314

The White House defended President Donald Trump's Sunday tweet that included a video of his supporters yelling the phrase "white power" at protesters at a Florida retirement community.On Sunday morning, President Donald Trump retweeted a video that was reportedly taken at The Villages, a large retirement community in central Florida. At one point in the video, a man in a golf cart adorned with Trump flags yells "white power" at anti-Trump demonstrators.The protesters can also be heard in the video shouting profanities at Trump supporters and also calling Trump a "Nazi" and "racist."Trump included a message in his retweet of the video, writing, "Thank you to the great people of The Villages." The tweet was live for more than three hours before it was deleted from his feed.Though the tweet was deleted, it sparked condemnations from some members of his own party. Sen. Tim Scott, R-South Carolina, called Trump's endorsement of the video "indefensible."In a statement on Sunday evening, White House spokesperson, Judd Deere defended the president's actions, saying that he "didn't hear" the racist language used in the video."President Trump is a big fan of The Villages. He did not hear the one statement made on the video. What he did see was tremendous enthusiasm from his many supporters," Deere said, according to CNN and The Associated Press. 1365

The Trump administration supports reopening schools this fall, in addition to sending 125 million reusable masks to school districts they released new guidance this week for districts to reopen safely.The Schools Should Reopen Safely policy is based on three assumed facts by the administration: that prolonged school closures cause harm, children are at low risk for serious illness from Covid-19, and that educating children is a top national priority.President Trump attended a discussion Wednesday about getting children back to school where the policy was discussed with administration leaders, medical experts and educators. Some of the speakers referenced how the coronavirus pandemic has provided an experiment for virtual learning.“But the virtual learning is not like being in a classroom, and we’ve learned that, I think, very strongly — in almost all cases. People thought for a long time that would be the answer but it’s — that’s not the answer. The answer is an old-fashioned one,” President Trump said.The recommendations encourage the use of masks and social distancing, as well as educating students, teachers and staff about Covid-19 symptoms. They follow guidance released earlier this year from the Centers for Disease Control and Prevention.The document lists eight recommendations for schools:Ensure all students, teachers, and staff understand the symptoms of COVID-19 and its risk factors.Require all students, teachers, and staff to self-assess their health every morning before coming to school; if they are symptomatic they should consult their physician.Encourage frequent handwashing or hand sanitizing during the school day, beginning upon entrance to the school, by ensuring that handwashing facilities are widely available throughout the school.Minimize large indoor group gatherings; hold large gatherings outdoors whenever possible.Maintain high standards of hygiene and ventilation within all classrooms, including keeping windows and doors open and running fans and AC units whenever possible.Require students, teachers, and staff to socially distance around high-risk individuals.Encourage the use of masks when social distancing is not possible.Liberally post instructions regarding hygiene and social distancing around the school.There are also recommendations for high-risk teachers and students, including giving these individuals options to stay home.“Provide high-risk students, or students who have high-risk family members, the choice to stay home and engage in distance learning,” the guidance states.The policy is a set of recommendations and not mandatory for schools to reopen. States and districts are able to make their own decisions. 2694